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    2065 Locust Avenue

    Long Beach, CA 90806
    • $1,225,000
    • STATUS: Pending
    • ON SITE: 99 days
    • ID#: SB20144327
    Pending
    UPDATED: 57 min ago
    $1,225,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,376
      SQFT
    • $363
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1940
    County:

    School Ratings & Info

    Description

    All Tenants are currently paying! Perfect Owner Occupied opportunity! Renovated, Major Cash Cow 4-plex at 2065 Locust Ave., Long Beach. One of the highest available Cap Rates on the market, this South Wrigley asset is perfect for anyone looking for immediate cash flow and low maintenance. On current rental income, the property operates at an incredible 5.39% Cap and 13.04 GRM. Locust Ave. has an incredibly strong unit mix, being comprised of (3) 2-bedroom/1-bath & (1) 5-bedroom/2-bath units. One 2 bedroom/1 bath unit can be delivered vacant at close of escrow. A very rare commodity in Long Beach, the property has (5) garages on site conveniently located for all tenants, as well as an opportunity for extra income for owners. Renovations to the property include granite counter tops, stainless steel appliances, new bathrooms/floors, and a full copper re-pipe. Locust was also re-stuccoed and has new interior/exterior paint. The property is also separately metered for gas and electric.With $6B in development flowing into the city, Long Beach has continued to rise as a top beach community. This is a perfect opportunity for any buyer to own a cash flowing asset in one of Southern California+GGs last affordable beach communities.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T20:32:10.87. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/108085813
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    2065 Locust Avenue Long Beach, CA 90806

    • Price: $1,225,000
    • Status: Pending
    • Updated: 57 min ago
    • ID#: SB20144327
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    3,376
    SQFT
    $363
    $/SQFT
    1940
    Built
    Neighborhood:
    Wrigley Area (Wr)
    County:
    Los Angeles
    Area:
    5 - Wrigley Area
    Property Description
    All Tenants are currently paying! Perfect Owner Occupied opportunity! Renovated, Major Cash Cow 4-plex at 2065 Locust Ave., Long Beach. One of the highest available Cap Rates on the market, this South Wrigley asset is perfect for anyone looking for immediate cash flow and low maintenance. On current rental income, the property operates at an incredible 5.39% Cap and 13.04 GRM. Locust Ave. has an incredibly strong unit mix, being comprised of (3) 2-bedroom/1-bath & (1) 5-bedroom/2-bath units. One 2 bedroom/1 bath unit can be delivered vacant at close of escrow. A very rare commodity in Long Beach, the property has (5) garages on site conveniently located for all tenants, as well as an opportunity for extra income for owners. Renovations to the property include granite counter tops, stainless steel appliances, new bathrooms/floors, and a full copper re-pipe. Locust was also re-stuccoed and has new interior/exterior paint. The property is also separately metered for gas and electric.With $6B in development flowing into the city, Long Beach has continued to rise as a top beach community. This is a perfect opportunity for any buyer to own a cash flowing asset in one of Southern California+GGs last affordable beach communities.
    Exterior Features

    Garage Spaces 5.00 Lot Features 0-1 Unit/Acre Lot Size Source Assessor Lot Size Units Square Feet Parking Total 5.00 Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Heating Floor Furnace Heating YN Yes Laundry Features None Levels One

    Property Features

    Additional Parcels YN No Building Area Units Square Feet Community Features Urban Country Us Electric Expense 0.00 Elevation Units Feet Fuel Expense 0.00 Gross Income 93912.00 Gross Scheduled Income 93912.00 Insurance Expense 0.00 Land Lease YN No Laundry YN No Net Operating Income 65995.00 New Construction YN No New Taxes Expense 0.00 Number Of Separate Electric Meters 4 Number Of Separate Gas Meters 4 Number Of Separate Water Meters 1 Operating Expense 25100.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Wrigley Area (Wr) Total Expenses 25100.00 Trash Expense 0.00 Water Sewer Expense 0.00 Water Source Public Year Built Source Assessor Zoning Lbr3t

    Listing provided courtesy of Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-29T20:32:10.87. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

     
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